Global Scans · Economy · Weekly Summary

DRIVER: The global economy still faces serious headwinds and political uncertainty potentially balanced by the enormous promise of technological advancements in many fields. Read on to get a solid handle on the opportunities and risks you and your organization may likely face and set your sails accordingly.

• [New] Even under the most extreme hypothetical scenario, in which there are increases in volumes, prices, intensity, and coverage of services for older persons, the growth in health spending for Japan 1.0 percentage points higher than what would be expected from population ageing alone. WHO Kobe Centre
• [New] Rising energy prices and possible supply disruptions could affect the whole economy, including transport, power generation, agriculture, and global shipping. The Daily Star
• [New] Energy markets remain the most immediate concern, as any escalation in global conflicts could push up fuel prices and disrupt supply chains, sharply increasing Bangladesh's import bill. The Daily Star
• [New] The potential value unlocked by AI in helping design out waste in a circular economy for food is estimated at USD 127 billion a year by 2030, and for consumer electronics, it's USD 90 billion a year by 2030. Mixflow.AI
• [New] As the price of gasoline skyrockets due to Trump's war of choice in Iran, that transfer to wealth from Americans to Big Oil will only grow. U.S. Senate Committee on Environment and Public Works
• [New] Global oil prices jump as escalating US-Israeli conflict with Iran and shipping disruptions in the Strait of Hormuz raise fears of supply shortages. GCC BUSINESS WATCH
• [New] Labour shortages, geopolitical risks and logistics disruptions have accelerated reshoring - bringing production closer to home markets. Automation.com
• [New] As global supply chains rebalance, AI becomes embedded in production, and sustainability gains boardroom priority, machining leaders must rethink how they plan, program and optimize their operations. Automation.com
• [New] On the international scale, major powers like the US and China agree to share (at least some) future resources, while they are both unsure who might dominate without a power-sharing agreement. Forethought
• [New] The wellness tourism economy in Europe is projected to grow significantly faster than general tourism, driven by an aging population and heightened health consciousness among younger demographics. Market Data Forecast
• [New] Today's announcement builds on government investments in defence, infrastructure, and Northern development to strengthen and secure Canada's presence in the Arctic and unleash the North's economic potential. Prime Minister of Canada
• [New] The elevated price of oil and the US decision to ease sanctions on Russia will provide Russia with greater flexibility and support the Russian domestic economy, Russian force generation, and the Russian defence industrial base. Critical Threats
• [New] Asia-Pacific is expected to experience the fastest growth during the predicted timeframe, driven by ever-broadening industrial digitization projects, production restructuring, and a robust government backing at the interface for AI initiatives. Precedence Research
• [New] The effects of 2025's global economic reshuffle are still unfolding in 2026, with persistent geopolitical tensions, supply chain realignments and protectionism expected to further shape the technology sector. Baker McKenzie
• [New] In a world of increasing digital risk, asset seizure, and politically motivated interference with private wealth, the quality of a jurisdiction's regulatory and enforcement infrastructure is a serious consideration. Mishcon de Reya LLP
• [New] The Middle East conflict is causing huge disruptions to energy supplies, with knock-on effects reaching far beyond petrol prices. The Guardian
• [New] Thailand's economy in 2026 may grow by only 1-2%, amid risks from energy prices and geopolitical tensions, particularly the conflict in the Middle East, which could raise both energy and transport costs. Ravipa Noonsawasdi
• [New] The primary risk that would cause oil prices to continue rising is an extended closure of the Strait of Hormuz, which is a major world oil transit chokepoint through which nearly 20% of global oil supply flows. EIA - Energy Information Administration
• [New] A worst-case scenario of oil prices hitting $140 a barrel could increase UK inflation from 3% to 5% by the end of the year. The Guardian
• [New] Financial institutions that embrace technological innovation will be better positioned to deliver secure, personalized, and efficient financial services in the evolving global economy. Trader
• [New] As countries around the world use AI to advance their own digital economies, LLMs will have a greater influence on what service products can be created domestically rather than outsourcing them internationally. The Dallas Morning News
• [New] Bilateral trade agreements settled in local currencies, rather than routing through New York, could save millions in foreign exchange conversion fees and reduce imported inflation. Streamline
• [New] South African taxpayers involved in crypto transactions or holding digital assets should anticipate increased scrutiny and enhanced information sharing among tax authorities, emphasising the necessity for precise tax reporting and compliance in their income tax returns. IOL

Last updated: 17 March 2026